German stocks fell on Thursday as investors exercised caution amid rising oil prices stemming from ongoing tensions between the United States and Iran, alongside renewed concerns about technology stock valuations after heightened AI investment.
Market participants also turned their attention to the European Central Bank’s upcoming monetary policy announcement later in the day.
Brent crude futures rose $4.25, or 4.51%, to $98.32 per barrel, having earlier touched a high of $98.75.
The DAX index was down 176.88 points, or 0.7%, at 24,997.22 a few minutes before noon.
Infineon Technologies slipped around 4.2%; Commerzbank shed 3.4%, while Symrise and Scout24 each declined 2.9% and 2.6%, respectively.
Other decliners included MTU Aero Engines, Siemens Healthineers, Zalando, Continental, Deutsche Bank, Vonovia, Airbus, Qiagen, Henkel and Hochtief, each losing between 1% and 1.7%.
Deutsche Boerse eased nearly 1% despite reporting a 12% increase in second‑quarter net profit.
Daimler Truck Holding rallied 3.2% after upgrading its full‑year revenue and profit outlook.
Rheinmetall gained 2.3%, BASF rose 1.1%, while RWE, Brenntag and GEA Group posted modest gains.
Separately, data from the European Automobile Manufacturers Association indicated that European new‑car sales accelerated sharply in June, bolstered by government incentives that spurred demand for electric vehicles. Car registrations in the euro area climbed 13.6% year‑over‑year after an increase of 3.2% in May.
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